Institutional managers buy on dips because crypto funds inflows of US$154 million per week

As a digital asset fund focused on Bitcoin (Bitcoin) And ether (Ethereum) Continues to grow, according to CoinShares data.

According to CoinShares’ latest fund flow report, crypto investment products, including exchange-traded funds (ETFs), have inflowed a total of US$154 million each week for the week ending November 20. As in previous weeks, Bitcoin investment products attracted most of the inflows with US$114.4 million. The funds used for Ethereum flow in at US$12.6 million per week, and the net investment in multi-asset products is US$14.1 million.

Since the beginning of the year, institutional investors have allocated more than 6.6 billion U.S. dollars to Bitcoin products, 1.17 billion U.S. dollars to Ethereum products, and more than 9.2 billion U.S. dollars to the entire cryptocurrency.

Grayscale is the largest crypto asset management company, record As of November 19, assets under management were $51.9 billion.

October is a record month for Bitcoin funds Part of this is due to the approval of two futures-linked ETFs in the United States. As the price of BTC hit a record high, the institutional manager purchased a Bitcoin fund worth $2 billion this month.

Although from a price point of view, there was a low level of optimism about Bitcoin in November, but the latest capital flow data shows that investors are not worried about market corrections. As Cointelegraph reported, Bitcoin hits a low of about $56,500 Before the correction is higher on November 20. As the price consolidates below US$58,000, this flagship cryptocurrency is still prone to callback again in the short term.

related: $60,000 becomes resistance-5 things to watch for Bitcoin this week

According to a recent A tweet from cryptocurrency analyst TechDev stated that as of July, the 2021 bull market has lagged 5 to 8 days from the 2017 cycle. If this trend continues, Bitcoin and the broader market may break through in the medium term.